Palo Alto Networks (PANW) Stock Analysis: Bullish Momentum with Strong Support Levels
The stock closed the week at $193.9, up 5.16%. It gained 3.5% on Friday.
The price is trading above the 50-, 100-, and 200-week EMAs, reflecting a long-term bullish bias. The 50-, 100-, and 200-week EMAs are at $168.5, $150.5, and $122, respectively. These EMAs have previously acted as strong support, with the price bouncing multiple times after touching them. The weekly RSI is at 56, and the MACD is bearish.
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The price is above the 50-, 100-, and 200-day EMAs, indicating a short-term bullish bias. The 50-, 100-, and 200-day EMAs are at $185.6, $183, and $174, respectively. The daily RSI is at 62, and the MACD is bullish.
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The stock is trading within a wedge pattern, with trendline support around $171 and resistance near $225.
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